Border to Coast Pensions Partnership Ltd Sells 106,361 Shares of CDW Corporation $CDW

Key Points

• Border to Coast sold 106,361 shares, cutting its CDW stake by 57.1% to 79,785 shares worth about $10.89 million as reported in the latest 13F filing.
• CDW beat Q4 estimates with $2.57 EPS (vs. $2.44 expected) and $5.51 billion in revenue (vs. $5.33 billion), and analysts hold a consensus “Moderate Buy” with an average price target of $160.43.
• Dividend and valuation: CDW pays a $0.63 quarterly dividend ($2.52 annualized, 1.9% yield), trades at a P/E of 16.01, and has a 52-week range of $112.98–$192.30.

Border to Coast Pensions Partnership Ltd decreased its holdings in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 57.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,785 shares of the information technology services provider's stock after selling 106,361 shares during the period. Border to Coast Pensions Partnership Ltd owned about 0.06% of CDW worth $10,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of CDW. Root Financial Partners LLC bought a new stake in shares of CDW during the 3rd quarter valued at $26,000. Quent Capital LLC bought a new stake in shares of CDW during the 3rd quarter valued at $57,000. eCIO Inc. bought a new stake in shares of CDW during the 4th quarter valued at $61,000. Covestor Ltd grew its position in shares of CDW by 87.9% during the 3rd quarter. Covestor Ltd now owns 483 shares of the information technology services provider's stock valued at $77,000 after acquiring an additional 226 shares during the period. Finally, American National Bank & Trust bought a new stake in shares of CDW during the 4th quarter valued at $110,000. Institutional investors own 93.15% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CDW. JPMorgan Chase & Co. cut their price objective on shares of CDW from $170.00 to $160.00 and set a "neutral" rating for the company in a research report on Thursday, February 5th. Morgan Stanley boosted their price objective on shares of CDW from $141.00 to $142.00 and gave the company an "equal weight" rating in a research report on Thursday, February 5th. Weiss Ratings reissued a "hold (c-)" rating on shares of CDW in a research report on Tuesday, January 27th. UBS Group dropped their target price on shares of CDW from $190.00 to $162.00 and set a "buy" rating for the company in a report on Thursday, February 5th. Finally, Citigroup upped their target price on shares of CDW from $148.00 to $150.00 and gave the stock a "neutral" rating in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $160.43.

CDW Trading Down 0.4%

Shares of CDW stock opened at $129.56 on Thursday. The company has a market capitalization of $16.58 billion, a P/E ratio of 16.01, a P/E/G ratio of 1.80 and a beta of 1.02. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.10 and a current ratio of 1.18. The company has a fifty day moving average of $124.58 and a 200 day moving average of $136.55. CDW Corporation has a fifty-two week low of $112.98 and a fifty-two week high of $192.30.

CDW (NASDAQ:CDW - Get Free Report) last issued its earnings results on Wednesday, February 4th. The information technology services provider reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.13. The company had revenue of $5.51 billion during the quarter, compared to the consensus estimate of $5.33 billion. CDW had a net margin of 4.76% and a return on equity of 50.66%. CDW's quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.48 EPS. On average, sell-side analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Wednesday, February 25th were issued a $0.63 dividend. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $2.52 annualized dividend and a yield of 1.9%. CDW's dividend payout ratio is currently 31.15%.

CDW Company Profile

CDW NASDAQ: CDW is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.

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